ROBERT J. HEAD (CRD# 240935) has been permanently barred by the Financial Industry Regulatory Authority (FINRA) from acting as a broker or otherwise associating with firms that sell securities to the public.
FINRA reports that allegedly from August 2008 until October 2013, Head who was managing a Stifel Nicolaus trust account for a client, exercised his own discretion in this client's account. This client who is 78 and retired, never gave her authorization to Head to trade in her account at his discretion. Allegedly, Head traded in the retiree's account routinely without obtaining her permission or discussing the details of the trades.
According to the FINRA report, Head allegedly chose high-risk investments for this particular client who was retired and allegedly originally wished to stay in low-risk investments. For example, in 2011 there were 310 transactions, many of which were high-risk investments which generated over $41,000 in commissions for Head, and approximately $13,500 in losses for the client.
ROBERT J. HEAD was previously registered with the following securities firm(s):
08/2008 - 01/2014 STIFEL, NICOLAUS & COMPANY, INCORPORATED (CRD# 793) - OMAHA, NE
05/2004 - 08/2008 WELLS FARGO INVESTMENTS, LLC (CRD# 10582) - OMAHA, NE
10/1997 - 06/2004 ROBERT W. BAIRD & CO. INCORPORATED (CRD# 8158) - MILWAUKEE, WI
09/1992 - 10/1997 SMITH BARNEY INC. (CRD# 7059) - NEW YORK, NY
08/1992 - 09/1992 THE PRINCIPAL/EPPLER, GUERIN & TURNER, INC. (CRD# 260) - DALLAS, TX
01/1992 - 08/1992 PRUDENTIAL SECURITIES INCORPORATED (CRD# 7471) - NEW YORK, NY
02/1978 - 01/1992 DEAN WITTER REYNOLDS INC. (CRD# 7556) - PURCHASE, NY
05/1973 - 02/1978 DEAN WITTER & CO. INCORPORATED (CRD# 6466)
11/1968 - 05/1973 DEAN WITTER & CO. INCORPORATED (CRD# 209)
If you or an elderly family member have investment losses due to your stock broker/financial advisor, call Soreide Law Group for a free consultation on how to potentially recover your investment losses at 888-760-6552. We represent our clients nationwide before FINRA.
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